12 thoughts on “CHART OF THE DAY”

  1. gary Post author

    The Fed is intervening aggressively in the markets right now ahead of the potential Greek default so it’s 50/50 whether or not the selling pressure can overwhelm the Fed’s printing press.

  2. Jonathan

    Stocks are stuck in a range. Every rally gets sold, and every dip gets bought. Let’s get out of the range, up or down.

  3. Jay

    Every little dip in SPX is a buying opportunity until “buy the dip” stops working (maybe never) 😉

    1. gary Post author

      When we do eventually get a correction it will be a buy the dip opportunity also.

    2. Sooze

      When the trend line was broken in 2012 I think the Fed stepped in with QE3 (if memory serves, it broke the trend line a couple of months before the election).

      I believe the Fed desperately wants to crank up QE4, but they can’t do it with stocks at all time highs. They ‘need’ a pullback of 10% to justify ‘saving us’ again. Gonna be tricky, because if margin calls are activated, then 10% can quickly become 20% or greater.

  5. ted

    There is no way this market is going to correct in any significant way. This is torture for the bears. It’s too high for them to jump in, and they never get a decent correction so they can jump in. Remember back in 2009 when everyone was saying buy & hold was dead? Since then, buy & hold was the only good bet!

    1. Jay

      When metals guys like equities better than metals, I wonder how much more upside there is in equities, even though metals may have a lot more work to do before they fully recover.

      1. gary Post author

        I’m agnostic. I like markets that are going up 🙂

        Sooner or later the metals will start going up again but until they do I’m content to make money in other sectors.

        So far energy has been the best performing for us this year.

        1. Don

          Biotechs have been the best performing sector YTD, as they have been for the past several years.

  6. Bob UK

    The Greeks are saying that they will pay their IMF payment this coming Friday – conventional stock market bounce on that news?

  7. Joey

    FED keeping the SPY green while bonds, utilities and commodities are tanking. hahahaha

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